2012 opens with accelerated job growth!

The WSJ reported today that the “economy added 200,000 jobs in December, double November’s pace and all of it coming from the private sector, while the politically salient unemployment rate fell to 8.5% from November’s revised 8.7%”. Vanguard cited this as the lowest unemployment rate since February 2009. And Reuters said “the drop in the jobless rate was mostly due to strong hiring” without the usual caveat accompanying such good news where the number of jobless actively searching dropped. Hopefully this is an omen for the rest of 2012. It is in fact an election year, which historically begets improved economic news (if only for the short run).